NIFTY FUT Holds to 5890. Closes Below 5935. Where is it Headed?

NIFTY FUTURE- Review of 7^th June

NIFTY FUT – volatile yet a good day of trading if managed to trade with the trading levels. The TREND DECIDER was mentioned at 5955 and above that target was given at 5990 and NIFTY marked a high just at 0.05 below that level before falling all the way.

The worrying part for BULLS here is that despite managing to trade above 5955 the pace of the fall from that highs displayed tremendous pressure from the BEARS. We had discussed that 6005 and 6035 will be the key trading on a swing basis.

This was another trading opportunity for the strong hearted contrarian players which would had yielded terrific results. 

For two consecutive sessions despite managing to breach below 5890 NIFTY has managed to pull back and close above that level. So what is in store for the markets in the coming session. 

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NIFTY FUTURE- 10^th Jun Trading Guide

NIFTY FUT despite having managed to breach the trading levels of 5890 have managed to close above that in two consecutive sessions. Also that fact that we marked a low above 5855 trading levels is something that is important to note from a swing basis The trading levels of 5830-55 are critical swing levels on the downside to watch out for.

On an immediate basis we can see selling pressure intensifying in case NIFTY Fut breaches 5890 and that would be an ideal point to initiate short trades on break of it. Else this might provide good contrarian pull back trading opportunities.

On the upside NIFTY fur will display positive bias in case it manages to trade above 5935 trading levels.  But until NIFTY fut manages to move above and manages to sustain above 6005 trading levels it will be prudent to take quick long scalping trades.

Trading levels for the day:

POWERTRADE BEARS LAST STAND POINT OF THE DAY ----- 5955-60  sustaining above which it will target 5990,6030
POWERTRADE TREND DECIDER OF THE DAY ------- 5930-35
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5890-95
Breakdown and sustaining below POWERTRADE BULLS LAST STAND POINT OF THE DAY will open target for support of ---- 5860,5835